Ever wonder what exactly workers’ compensation insurance is? You’ve heard the term thrown around at your job, but you’re still unsure of the details. Workers’ compensation insurance works to protect both employers and employees in the event of work-related injuries or illnesses. As an employee, it ensures you will receive medical care and wage replacement benefits if you get hurt or sick because of your job. For employers, it protects against the risk of expensive lawsuits. Workers’ compensation provides no-fault coverage, which means you can claim the benefits regardless of who is at fault fo... view blog & white papers details

Are you thinking about how your company plans your employee benefits? Creating a new hire's benefits package is a time-consuming task. This is one of the reasons why employees must understand the intrinsic value of benefits. Strong and clear communication about benefits will provide employees with the context they need to maximize their value. Explore more about the intrinsic value of benefits in this article. Discussing the Intrinsic Value of Benefits During Onboarding When employees first join your company, it’s critical to communicate the intrinsic value of benefits package. This helps them... view blog & white papers details

Having compelling compensation plans can help boost your team's performance and motivation. The compensation plan varies depending on the job role's operations, responsibilities, and contributions to the company's sales. For most jobs, you will want to include fixed pay, like a base salary, along with additional bonuses or incentives. But for one particular job —sales managers—they spend less time working on sales and more on other tasks. That said, the way you pay them needs to fit their job, considering their roles and responsibilities.  Determining how to pay sales managers can be a bit tri... view blog & white papers details

Having top talent within your organization is key if you want to be successful. Developing a healthy talent pool doesn’t happen by accident though as it takes deliberate planning and effort. So, how can you develop a talent pool that your organization can utilize in its recruiting processes? Let’s find out. What is a Talent Pool and Why Is It Important? We can define a talent pool as a group of candidates within an organization that has the ability and potential to fill in positions that become available. There are a variety of reasons why employers may want to develop a strong talent pool. Fi... view blog & white papers details

Ever wondered how people make money from companies they work for besides their salaries? Equity compensation is one way. Employees may receive stock options, restricted stock units, or other forms of equity. How does equity work in a company? To help you understand your options and maximize this opportunity, this guide will explain the basics. Equity compensation lets you own part of the company you're building. Notice how equity rises as company value rises. While the details can seem complicated, equity compensation is a simple concept. You get offered equity for your contributions, the comp... view blog & white papers details

When finding top talent, companies can choose between recruiting and talent acquisition. Both of these processes seem alike. These two approaches actually have various aspects that make them differ from each other. Learning the difference between recruiting and talent acquisition is vital to any company. Recruiting is a continual process that centers on hiring for recent openings. Talent acquisition takes a longer-term and a more strategic view. It builds a robust pipeline of candidates to fill both existing and future needs. For companies looking to gain a competitive edge, knowing the distin... view blog & white papers details

Talent is the lifeblood of a company. Hiring the right people with the skills to get work done is critical to success. But the traditional hiring process is not cutting it anymore. Resumes do not actually tell whether someone will be good at the job. Candidates are getting savvier at interviews. Companies need a talent acquisition strategy that focuses on skills, not credentials. When a company makes skills a priority and finds new ways to assess candidates, they open up the candidate pool, gain valuable insight into people's abilities, and make better hiring decisions. This approach, known as... view blog & white papers details

Companies often reward employees beyond their base salaries through profit sharing plans. In these plans, company leaders allocate a portion of the annual earnings to create an additional pool of funds distributed among the employees. These profit sharing plans can focus on certain groups of employees, like managers and higher-ups, instead of including everyone who works at the company. Explaining Profit Sharing: What is a Profit Sharing Plan? A profit sharing plan is when your company takes a portion of its profit and gives it to your team in addition to your base salary. It is a wonderful wa... view blog & white papers details

Here are the top ten compensation trends we predicted would influence the HR industry in this year. All of these trends represent longer-term shifts in compensation that HR professionals should continue to monitor. Want to see the top ten trends we tracked recently? Read the latest post in this series. 1. Top compensation trend: HR’s role in the organization will change “Employees are becoming consumers of HR services and HR is seeing a shift in its role from administrator to service provider.” – Stacey Harris, VP, Research and Analytics at Sierra-Cedar, Sierra-Cedar 2017-2018 HR Systems Surve... view blog & white papers details

Business processes and HR metrics relate to each other. Their connection helps firms manage their workforce and achieve their business goals. HR metrics are crucial for firms to measure and track the performance of their workforce. They provide insight into how workers are meeting business goals. Yet, deciding which HR metrics to track can be a challenge. One good approach is to align metrics with certain business processes. By doing so, HR can better grasp how their efforts impact the firm’s bottom line. Aligning HR metrics with business processes allows firms to refine HR plans. It helps the... view blog & white papers details